ESPN first reported the deal Saturday night.
Lakers owner Jim Buss made Scott a verbal offer on Thursday and Scott and his representatives were reviewing it.
The Lakers have been without a coach since Mike D'Antoni resigned at the end of the regular season. Scott interviewed for the job three times, but the team decided to wait until after the draft in June and free agency this month before making a hire.
Lakers star Kobe Bryant has endorsed hiring Scott. The two were Lakers teammates in 1996 when Bryant was a rookie. As a coach, Scott is 937-416 in the regular season and 33-24 in the playoffs with the Nets (2000-04), Hornets (2004-09) and Cavaliers (2010-13).